Monthly Economic Review September 2016

The second official estimate for Q2 2016 growth in UK GDP was unrevised at 0.6%, compared to the 0.4% rise in Q1. This is the 14th consecutive quarter of positive growth (see Chart 1). The UK economy grew by 2.2% in Q2 2016, compared to the same quarter in 2015. While UK economic output is now 7.7% above its Q1 2008 pre-recession peak, GDP per head is still just 1.2% above its pre-recession peak. Overall, the latest GDP figures provide further evidence that the UK economy expanded at a solid rate in the run-up to the EU referendum.